高层管理人员薪酬与盈余成分相关性的实证研究——基于中国证券市场的经验证据被引量：13

Empirical Analysis on Relationship between Top Managerial Compensation and Earnings Components:Evidence from Chinas Capital Market

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摘要高层管理人员薪酬与盈余成分之间的相关性一直受到学术界的关注,以中国资本市场上市公司的2958个年度样本实证研究盈余的不同组成部分与高层管理人员薪酬之间的关系。当将盈余划分为经营现金流项目和应计项目时,实证结果显示主要是应计项目影响了高层管理人员薪酬。在此基础上进一步应用Jones模型将应计项目区分为可操纵应计项目和不可操纵应计项目,研究二者在高层管理人员薪酬激励中的不同作用,研究结果发现,主要是不可操纵应计项目影响了高层管理人员薪酬。 The correlation between different parts of earning and top managerial compensation has been spotlighted by academia. This paper empirically studies it based on the data trom capital market in China, When earnings are classified into operating cash flow and accruals, it＇s only accruals that play the main role. Basing on this point, with Jones model, this paper divides accruals into DA （discretional accruals） and NDA （non-discretional accruals） to identify differences between them. The result shows that NDA is the main factor which influences the compensation. This research provides a new vision for the relationship between earning and compensation.

作者周泽将杜兴强

机构地区厦门大学管理学院

出处《财贸研究》 CSSCI 2009年第2期114-120,共7页 Finance and Trade Research

基金国家社会科学基金项目"会计准则会计信息质量与会计信息的契约有用性研究"(项目批准号:07CJY010)的阶段性研究成果

关键词高层管理人员薪酬盈余成分 top managers compensation earning components

分类号 F276.6 [经济管理—企业管理]

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